EP and Council agree on EFSI 2.0

One year after European Commission President Juncker's 2016 State of the Union speech, MEPs from the Economic and Monetary Affairs and Budgets committees and the Estonian Presidency of the Council have come to an agreement in principle on the extension and strengthening of the European Fund for Strategic Investments (EFSI 2.0). The agreement extends the duration of EFSI up to 2020, as well as increasing its financial capacity, aiming to mobilise up to €500 billion.

Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "Tonight's agreement means that the new and improved European Fund for Strategic Investments – or EFSI 2.0 - will benefit European citizens until at least 2020. The EFSI has already reached all 28 Member States, supporting key public and private investment projects and financing a huge range of small businesses and start-ups."

The draft EFSI 2.0 Regulation agreed between the EP and the Council still has to be formally adopted by both institutions.